Asia-Pacific Metal Chelates Market has been estimated at USD 127.16 million in 2021 and is projected to reach USD 194.94 million by 2026, at a CAGR of 8.92% during the forecast period from 2022 - 2027.
Metal Chelates market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the degrading quality of soil and pH levels, thus making the agricultural land unproductive. The market has grown rapidly recently and is expected to continue the same.Metal chelates include an organic molecule which has the ability to make bonds with a metal cation ionically or covalently. Chelates are nothing but chemical compounds which comprise of the chelating agent and a metal ion. A chelating agent is a chemical substance which helps a single metal ion in making several bonds with itself. These compounds are also called multidentate ligand.
Drivers and Restraints of Asia-Pacific Metal Chelates Market:
The degradation in the quality of soil has resulted in a rise in the demand for metal chelates across the agricultural sector. Other major factors which are responsible for the growth of market include rising awareness about nutrient deficiencies in crops, increasing demand for higher yield in crop production, and lastly development in farming practise being implemented. On the other side, the market has faced some restraints and challenges as well, and the major ones include wide range of side effects of non-biodegradable chelates, and the lack of farmers‘ acceptance about the use of metal chelates.
Asia-Pacific Metal Chelates Market – By Type:
The market share is led by micro nutrients followed by primary nutrients.
Asia-Pacific Metal Chelates Market – By Crop Type:
The fruits and vegetables accounted for the greatest market share based on crop type due to higher chances of crop damage due to nutrient deficiency.
Asia-Pacific Metal Chelates Market – By Application:
where foliar holds the largest share in the market.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
Some of the major market leaders competing for their share include Akzo Nobel N.V., BASF SE, Syngenta AG, Haifa Chemicals Ltd., Nufarm Limited, Aries Agro Limited, Valagro SPA, Van Iperen International, Deretil Agronutritional, Protex International.
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